Global law firm Hogan Lovells Cadwalader has advised Biesterfeld SE on the acquisition of a majority stake in South Korean OSP, a leading distributor of specialty chemicals and polymers for industrial applications.
With the acquisition of the majority stake, Biesterfeld is entering into a joint venture with OSP. Its founder and former owner D. W. Kim will remain actively involved in the business as a joint venture partner. The transaction strengthens Biesterfeld’s presence in South Korea and forms part of the company’s international growth strategy.
Founded in 1993, OSP specialises in the distribution of raw materials and additives for polyurethanes, coatings and adhesives, polymers, composites and specialty chemicals for the electronics industry. The company serves customers across a range of industries, including automotive, marine, electronics and consumer goods.
Biesterfeld SE is the holding company of the Biesterfeld Group, one of the world’s leading distribution and service companies for plastics, rubber, specialty chemicals and ingredients. Founded in Hamburg in 1906, the Group today employs more than 1,200 people across more than 50 locations worldwide.
Hogan Lovells Cadwalader advised Biesterfeld SE on all legal aspects of the transaction, working alongside a multidisciplinary team from Kim & Chang in Seoul led by partner Jung-Chull Lee. The Hogan Lovells Cadwalader team was jointly led by Hamburg-based partner Dr. Maximilian Menges and Munich-based counsel Dr. Philipp Strümpell, who advised on M&A and private equity matters, with projects associate Thorben Stute in Hamburg. Munich-based partner Christian Ritz and senior associate Dr. Dennis Cukurov provided antitrust advice.
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